>>The airline situation is a natural consequence of 9/11<<
Like the industry was just fine prior to that? What planet were you on in July/Aug01?
8/17
Great Lakes Aviation reported a loss of $5.1 million for the quarter, which was a 388% reversal of fortunes from the same period last year.
Vanguard posted a $6.8 million dollar loss.
World Airways posted a loss of $9.1 million, a 825% drop year over year.
8/13
Midway Airlines filed for Chapter 11 bankruptcy.
the FAA shut down the cargo operations of Emery.
8/7
US Airways said it expects to post a loss of some $160 million for this quarter.
8/2
Frontier net income dropped 53% from the same quarter a year ago.
Air Canada lost $C108 million for the qtr.
Mesa net income was down 23%.
July 2001
America West announced that it will post a second quarter loss of between $20 to $30 million, excluding special charges...more than twice as bad as had been previously expected.
Continental net income for the quarter down 72% year over year.
United reported a loss of $5.50 per share which was worse than the analyst consensus expected loss per share of $4.73. Translated, this means the airline lost $292 million, compared to a profit of $374 million the airline posted for the same period of time last year.
US Airways reported a loss of $0.36 cents a share which was much better than the consensus, which had been looking for the airline to report a loss of around $0.57 cents a share. Translated, this means the airline lost $24 million for the quarter, compared to net income of $80 million for the same period last year.
American Airlines reported a loss of $0.68 per share (excluding two special items in aggregate of $2.61 per share). This figure was just a penny better than the analyst consensus figure. This translates to a net loss of $105 million. Last year, the airline posted a profit of $285 million.
America West reported that it lost $0.60 cents a share, (excluding special charges of $0.66 per share), which was a bit better than the just lowered $0.73 analyst consensus figure. This translated to a net loss of $20.3 million for the quarter, compared to a profit of $27.3 million that was recorded for the year ago period.
Continental Connection carrier CommutAir told employees it is going to slash operations in half, furloughing at least 150 people, as the airline attempts to stay afloat.
Delta Air Lines reported a loss of $1.03 cents per share
Northwest Airlines reported a loss of $0.65 cents per share
Air Transport Association reported that June's domestic revenue figure for the major airlines (except for Southwest) was down 12.8% year over year.
May's RASM figure was down 11.8%, and people thought that was bad.
For the second quarter 2001, the industry will lose about $400 million, which is the worst result for a second quarter in almost 10 years. The full year loss for the industry, which last quarter was upped to at least $1 billion, is now estimated to hit at least $1.4 billion.
All BEFORE 9/11
as usual you have no idea what you're talking about |
